South African retailer Edcon can be saved: administrators

Shoppers walk past an Edgars store at a shopping centre in Soweto, southwest of Johannesburg, January 30, 2015.

Administrators in charge of South African department store operator Edcon believe there is a reasonable prospect of saving the company after filing for a form of bankruptcy protection in April.

In a presentation to creditors dated May 18 and seen by Reuters, the administrators said Edcon has “valuable brands and market position that can possibly be preserved through business rescue.”

They will publish a business rescue plan on June 8.

This entry was posted on 20 May 2020,09:40PM at 9:40 PM and is filed under Coronavirus, Business.
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